If someone is eager to sell their property, they may keep a few defects hidden. Although a professional inspector would pick up on any problem, it is expensive to hire one for each viewing. So, here are some red flags that you can look out for that could tell you to avoid the property.
The first thing is that you must think twice before you purchase a “fixer upper.” These properties are often very cheap, which makes them very attractive. Many of us believe that we have sufficient DIY skills to fix up such a property. In reality, however, they are often things that must be done by qualified professionals. The price you pay for these professionals may be a lot higher than you had budgeted for initially. Next, properties that have had DIY repairs can also be a red flag. With all the best intentions, things that have been done without professional help can look great, but are often full of problems.
Then, you must look into historical problems that may have caused problems that simply cannot be repaired. Some of these issues include water damage, pest damage, asbestos, mold and faulty wiring. The issue is that identifying these types of problems can be very difficult. It is possible that the present owners do not even know that these issues are there. If they do know any of these problems are present, they may do all they can to keep them hidden. By simply ensuring the property is very clean and no sockets are used unnecessarily, you are not able to see the problems are there. In order to find out whether these issues are present, you will need a professional home inspection; but you can also speak to community members. They can tell you about the history of various properties in the area. Usually, problems like pests, water damage and mold don’t occur in just one home.
The bottom line is that you should never purchase a property without having it professionally inspected. With the information above, you should be able to find out whether you should walk away, or whether hiring an inspector is a good idea. If there are any existing problems, you may want to consider not buying the property at all, or asking for a very significant discount as you will have to invest in the repairs sooner or later. Do also make sure you listen to professional inspectors’ advice. They are there to make sure you don’t buy something that isn’t worth your while.